Common US and World Coin Questions - Heritage Auctions
Common US and World Coin Questions - Heritage Auctions
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Common Coins The mainstream press has begun to pick up on a story that has been known
within numismatic circles for some time. In an unusual development for
modern coinage and an unheard of development within the Statehood
Bicentennial Coinage Quarter series, three distinctive die varieties have been reported for the
2004-D Wisconsin Quarter. First reported by collector Bob Ford, of Tucson,
Wheat Cents AZ, the more unusual varieties have thus far been reported in only the
Buffalo Nickels (No Date) Tucson and San Antonio areas.
Standing Liberty
Quarters (No Date)
2004-D Wisconsin State Quarter Varieties
Eisenhower Dollars
Indian Cents
Kennedy Half Dollars
Morgan and Peace
Silver Dollars
Proof Sets
Mint Sets Normal Dies
Silver Coins 1964 and Very Common
Earlier
Steel Cents
TRVST
War Nickels
Commonly Reproduced
Extra Leaf Low
Coins Scarce
Error Coins Pictured above are the three varieties, each clearly distinguishable by the
naked eye. On the left, the ordinary Wisconsin Quarter shows only the large
Errors (General) leaf to the left of the corn husk. These coins are very common, available
everywhere D-mint quarters circulate, and worth only their face value. The
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Planchets (Blanks) center coin shows distinct markings, resembling an extra leaf, between the
large leaf and the block of cheese. Because of the location of these
Grease Struck Through markings, this variety is called "Extra Leaf Low." On the right, the coin also
shows a curved marking to the left of the corn husk; this variety is called
Off-Center "Extra Leaf High."
Unplated Cents These coins are not mere striking errors. Although we may never know
exactly how they came about, there is no question that these varieties
Unplated Clad Coins arose as a result of an accidental or deliberate modification to the two
obverse dies. Rick Snow, of Eagle Eye Rare Coins in Tucson, speculates that
Tokens and Medals "perhaps (the varieties are) a "hub-through" where a semi-circular piece of
debris gets caught between the blank die and the hub. This would produce
an impression in the die which would create a raised element on the coins
Presidential Medals produced." Unexplained, though, is the location of the die modification and
Hard Times Tokens the fact that both varieties resemble extra leaves on a corn stalk. According
to Snow, "it may be an extraordinary coincidence or the result of some Mint
Civil War Tokens employee's private artwork."
Store Tokens Whether these new Wisconsin Quarter varieties have arisen as a result of a
hubbing error as Mr. Snow speculates, a die gouge as originally reported, or
Tax Tokens an unauthorized artistic endeavor in Denver, they have caught the attention
of the collecting public. As this is written in February 2005, these coins are
"1789" Treasury Medal still quite scarce, with the Extra Leaf Low variety somewhat scarcer than the
Extra Leaf High variety, and each scarce variety coin currently brings three
Silver Rounds figure retail prices. Both PCGS and NGC grade and attribute these coins as
individual varieties, and indeed NGC will encapsulate the three varieties
Elongated Cents together if you have the coins to submit.
World Coins Perhaps the best comparison to these coins is the famed 1937-D Three-
Legged Buffalo Nickel, a variety caused by overpolishing of a single die.
World Coins (General) Originally found only in the Billings, Montana area, this coin has remained
rare and popular since its discovery, with circulated pieces selling for prices
Mexican 8 Reales Piece in the mid three figures. Only time will tell whether the Extra Leaf Wisconsin
Quarter varieties will remain scarce or how valuable they will be in the
Maroc future. For now, they represent a chance to find a scarce coin in your
pocket change.
1965 British Churchill
Commemorative Westward Journey Nickels
1915 Austrian 4 Ducat After an uninterrupted run of 65 years, there are changes in the works for
1780 Maria Theresa the nickel. In 2004 and 2005, special circulating commemoratives known
Thaler as the Westward Journey Nickel Series were released to commemorate the
bicentennial of Lewis and Clark's expedition to explore the Louisiana
Marshall Island Coins Purchase and eventually the North American continent. The nickel is a
natural choice for this series, as the obverse has long featured Thomas
Jefferson, who was President during Lewis and Clark's explorations.
Other Material
By now, chances are good that you will have run across many of the
Gold-plated Coins Westward Journey nickels in your change. The two 2004 varieties are
known as the "Peace Medal" and "Keelboat" coins. Both coins' obverses
Lincoln/Kennedy Cent feature the familiar portrait of Thomas Jefferson.
Two-Headed Coins The Peace Medal coin, released in early 2004, has a
reverse derived from the original Indian Peace Medal
Cent/Dime given out by Lewis and Clark during their explorations
to Native American chiefs. Featuring a pair of clasped
Coin Questions hands below a crossed peace pipe and axe, the
reverse also bears the legend "Louisiana Purchase
Authentication 1803 to commemorate the year this historic purchase
was made.
1982 Lincoln Cent: zinc
or copper? The Keelboat coin, released in
late 2004, features an image of the keelboat Lewis
Cleaning Coins and Clark used to traverse the rivers of the Louisiana
Territory to search for a passage to the Pacific Ocean.
Professionally Grading Below the boat is the inscription "Lewis & Clark".
Coins
Things changed even more with the release of the
Mintmarks 2005 coins. Thomas Jefferson remains on the coin's
obverse, but in a completely new portrait unlike
Coin Terminology anything ever seen previously on a US coin. His face,
in closeup and facing right, covers most of the left side of the coin, peering
DMPL out into the distance. The motto "In God We Trust" remains on the obverse
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Fractional Currency One variety of the 2005-D American Bison nickel is drawing a great deal of
attention. Found predominantly in northeastern Texas and nicknamed the
German Inflationary "Speared Bison", this coin has a prominent vertical line running through the
Currency center of the bison. The consensus among experienced collectors is that
this line is the result of a die gouge, leaving a raised area where the metal
Obsolete Bank Notes was removed from the die.
Silver Certificates Of course, much like the Extra Leaf Up and Extra Leaf Down Wisconsin
Quarters, we are still very early in the life of the coin, so only time will tell
Star Notes whether the coin will remain rare and whether future collectors consider
this coin a significant variety or merely a curiosity.
Mule Notes
National Bank Notes The final 2005 nickel shows a view of the Pacific
Ocean in Oregon similar to that encountered by
Web Notes Lewis and Clark on November 7, 1805. Captain Clark's
journal entry for that date was, "Ocean in View! O!
The joy!", and this inscription appears on the coin. In
commemoration of the bicentennial of this event, the
inscription "Lewis and Clark 1805" also appears on
this reverse.
In 2006, Jefferson and Monticello return to the nickel.
The design of Monticello to be featured on the reverse is virtually identical
to the one used prior to 2004, with the most notable change being the
addition of designer Felix Schlag's initials to the reverse at the right base of
the building -- in exactly the same location that the mintmark appeared
through most of 1938-1964. The obverse, however, has much more in
common with the revamped 2005 design than with its predecessor. The
legends are in the same location as on the 2005 coin, and the script Liberty
has been retained. The date has been moved slightly.
But the most noticeable change to the obverse is that
Jefferson is now facing forward, at the viewer, from
the left side of the coin. Jefferson's revamped image
is based on the famous painting by Rembrandt Peale
in 1800, just a year before Jefferson assumed the
presidency.
Bicentennial Coinage
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bicentennial coinage.
Wheat Cents
The term Wheat Cent refers to the design used on the reverse of the Lincoln Cen
cents are very common, and were produced by the millions and even billions. Cu
cents carry a very small premium, in fact only a few cents to a few dollars each, de
year. Be on the lookout for the 1909-S, 1909-S V.D.B. (The designers initials that a
reverse), 1914-D, 1931-S, and the 1922-D with no mintmark below the date. These f
premium if you have one. Wheat cents may be a good start to a youngster's colle
Due to the design elements on the Buffalo Nickel, the date wore off of the coin ve
in a coin's value is the date, mintmark, and condition. A dateless buffalo is not onl
lacks a date by which to value it. Buffalo Nickels without a date are not in demand
have some use as jewelry. With this in mind dateless Buffalo Nickels only retail fo
Similar to the Buffalo Nickel, the Standing Liberty Quarter minted from 1916-1924 b
where it would wear off very quickly. With this in mind dateless Standing Quarters
content, roughly to $4-6 depending on the price of silver.
Eisenhower Dollars
The Eisenhower Dollar is made from Copper Nickel clad. These coins have a very
value, and are fun to spend for a dollar.
Indian Cents
Many Indian Head Cents, particularly those made 1880 and later, are quite commo
$0.50 and $30+, depending on condition.
Kennedy half dollars were first produced in 1964. Half dollars that bear the 1964 d
a numismatic premium based on the current price of silver. In 1965 the amount of
of Kennedy halves was decreased to 40%, and this specification was used until 19
1971 and later contain no silver and do not command a numismatic premium. In or
value of your Kennedy half dollars, multiply the current market price for silver by 0
by 0.1479 for all issues 1965 to 1970.
Most Morgan (1878-1921) and Peace (1921-1935) Silver Dollars are very common, a
millions. Currently, common date Morgan and Peace dollars retail for between $2
on the condition, year, and mint mark. The mintmark is a small letter below the wr
the Morgan dollar and beside the eagle on the Peace dollar. Among the mintmark
dollars will be a CC for Carson City, O for New Orleans, S for San Francisco, and D
issues carry a mintmark. Peace dollars were produced only in Philadelphia, Denve
Be on the lookout for the 1889-CC, 1893-S, 1894, and 1895. These four dates carry
grades if you have one. Certain other dates will also carry premiums in any grade
1893 or 1895 regardless of mint, 1903-O, and any dollar with a CC mintmark. 1921
no mintmark also bring premiums in any grade.
Dimes, Quarters and Halves dating 1964 and earlier contain 90% silver. The vast m
that date from the mid 1930's to 1964 are bought and sold as bullion. In circulated
for roughly the value of the silver they contain, about twenty times their face value
Steel Cents
In 1943, the production of our One Cent coin went through a major change. War e
copper and its availability was limited. It was decided to change the content from
zinc for the first run of the new 1943 cents. In 1944, the need for copper was redu
copper cent resumed.
Over one billion 1943 steel cents were produced at the Philadelphia, Denver, and
this a very common coin. However, many people found the new "look" fascinating
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spent, the new steel cent. Today, their value ranges from about 5 cents up to abo
condition. Uncirculated specimens (showing no trace of wear or handling) can bri
grades.
An extremely limited number of 1943 cents were inadvertently struck on copper p
machinery from the previous year. Very few escaped the mint unnoticed, and thes
desirable to collectors. Auction histories indicate the value range of an authentic 1
around $5,000 to $70,000, depending on the mint and condition. However, copp
The primary test for these is to use a magnet. The common steel & zinc pieces (an
fakes, as well as authentic cents from other years) will stick to the magnet. The ra
In 1921 the US Mint released the Peace Dollar. The designer Anthony D'Francisci i
words IN GOD WE TRVST. This was not a misprint or error, but a return to Roman
until the letter U was introduced some time later. The word TRVST is evident on a
1935. The Standing Liberty Quarter, minted between 1916 and 1930, also used the
War Nickels
Nickels with a large mintmark above Monticello's dome are commonly referred to
nickel was needed for war production, so the mint changed the composition of th
composition reduced the amount of nickel and copper in the piece and replaced
Coinage laws require that a design change be implemented whenever a change
a piece of circulating coinage. The change used for this specific coin was the add
Monticello on the reverse. A prominent P, D, or S is visible on all the War Nickels d
Well over 500 million of these pieces were produced between 1942 and 1945, ma
However, their silver content makes them worth more than their face value. Circu
price of the silver they contain, roughly 25 to 50 cents each.
Many 1799 Silver Dollars are replicas, particularly if they come out of Asia. Authen
$250 and $3,000, depending on condition. Replicas do not have a numismatic pr
While the 1804 Silver Dollar is perhaps the most famous rarity in American numism
those we encounter are replicas. Thousands of 1804 dollar replicas have been pr
discovering a new authentic specimen is highly unlikely.
Authentic 1804 silver dollars weighs approximately 26 grams, while most replicas
approximately 19 to 20 grams. In addition to the weight, a seam on the edge of th
that the coin is a replica. The coin must have a lettered edge; if it has a reeded ed
and quarters, it is a replica.
Replicas of rare coins have no numismatic value.
Territorial Gold
During the days of our nation's infancy, there were times when gold coinage need
order to meet the needs of commerce. This territorial gold coinage in denominati
not only in California, but in Colorado, Utah, and even North Carolina and Georgia
collectible and sometimes quite rare.
Unfortunately, there are also quite a number of common replicas of Territorial Gol
that are found far more often as replicas than as the real thing are Baldwin & Co.
and coins from the Cincinnati Mining and Tracing Co. (an engraving error -- authen
company name Cincinnati Mining and Trading Co.)
Take a look at your coin. If the coin you have is struck in anything other than gold
another base metal peeks out from underneath gold plating, the coin is a replica.
appears to have a seam, then the piece is a replica. Replicas have no numismatic
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on variety and condition. Unfortunately, there are also quite a number of replicas
Fractional gold piece that includes a bear in the design is a replica, and is worth o
contains, usually only a few dollars because of the coins' small sizes and low qual
Colonial Coins
Many US Colonial coins are far more common as replicas than authentic coins. 17
Dollars, William Moulton coppers, Oak and Pine Tree coinage, Bar coppers, and "J
of the coins commonly found as replicas. As always, look for the telltale seam on
would indicate that the coin is a replica and has no numismatic value.
A total of five 1913 Liberty Nickels were struck. The whereabouts of all five are kno
numerous replicas and coins that have been altered to show a 1913 date. Look at
You may notice that the 19 in the date are not consistent with either the second 1
the date was altered from a 1903 or a 1910 dated nickel. You may also want to loo
dates are altered they often feature fine scratches right around the date. An altere
value.
Errors (General)
A number of errors can occur in the minting process, so many they are too numer
types of errors that can occur in the minting process, we recommend a book calle
Encyclopedia by Arnold Margolis.
Planchets (Blanks)
Before coins are struck they are only metal discs. It is not uncommon for a planch
blank planchets are worth $1 and $4, depending on condition.
Occasionally, coins will be struck with some feature missing, generally due to gre
object between the die and planchet. When a foreign object rests on the die, the
becomes filled and does not show up on the coin. This type of error is very comm
slight premium.
Off-Center
Off center errors are valued based on a couple different factors. The amount of d
the presence of a full date, are the first two concerns. Coins with all four digits rea
specimens with the date missing. The more off center a strike, generally the more
age of the coin and whether or not it is a key date will have an effect on the error
off center coins retail for between $1 and $10+.
Unplated Cents
Cents dated 1982 and later are all struck in a combination of copper and zinc. In o
appearance, a sheet of zinc is plated with copper and the planchets are then stru
result is a "copper" looking coin. In some cases the sheet of metal is not plated w
produced from that sheet appear to be grey or silver. This is a common error that
$1 and $10, depending on condition and type. This can occur in another fashion a
will remove layers of metal leaving the zinc insides exposed. Coins that have bee
fashion have no numismatic value.
Dimes, quarters and half dollars are all struck in a combination of copper and nick
appearance, a sheet of copper is plated with nickel and the planchets are then st
result is a "silver" looking coin. In some cases the sheet of metal is not plated with
produced from that sheet appear to be copper. This is a common error that curren
and $20, depending on condition and type.
Presidential Medals
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A number of medallic coins were produced to commemorate the terms of the pre
unrecorded number of types that were sold in sets and individually, ranging from
the late 1960s to official inaugural medals. Most presidential medals retail for betw
depending on type, condition, and metallic content.
In both America and Canada during the 1830's and 1840's, economic hardships fo
individuals to strike coins to make up for a lack of regular circulating coinage. The
commonly referred to as Hard Times Tokens, and might retail for roughly $10-$30
Canadian pieces are much more common and retail for between $0.50 and $15, d
Cleaned and damaged pieces are worth significantly less.
Civil War Tokens, often made to resemble regular US cents, are quite common. To
produced by individuals and companies to make up for the shortage of coins in c
political slogans or advertisements. There are many different types, most of which
$20 each.
Store Tokens
Many different merchants produced these tokens to offer as change, or for use in
Thousands of different stores produced them, and unless they are from a very we
little more than $1 to $15, depending on type and condition.
Tax Tokens
A number states have issued sales tax tokens. Many of these are quite common,
number produced combined with a lack of demand for the pieces have driven pri
tokens are worth between $0.10 and $5 depending on type and condition.
This cent-sized piecee is a medal produced for Mint sets released by the U.S. Min
in the sets, but do not command a premium by themselves. The date 1789 is not t
rather the date of the establishment of the U.S. Treasury.
Silver Rounds
Silver rounds resemble silver dollars, but are medals produced by private mints a
to own silver. Their artwork often made them more appealing, and some may com
such as Christmas. Thousands of different silver rounds have been produced, and
other than for their silver content. Most contain exactly one ounce of silver and ar
silver they contain.
Elongated Cents
For over 100 years, entrepreneurs have attended special events with machines th
coins. Cents are obviously the most common elongated coins because of their m
these pieces have been produced to commemorate hundreds of events. Machine
common in any areas that are likely to attract tourists. Most elongated cents retail
A complete list of regular issue Foreign Coins dated 1901 to date and their retail v
Standard Catalog of World Coins by Krause Publications. These books are usually
and public libraries. Editions for coins struck in the 17th through 19th centuries are
One relatively common, but significant coin, is the Mexican 8 Reales piece. It is a s
a silver dollar, minted from 1733-1821. The coin changed designs several times du
commonly depicted the reigning Spanish monarch on the obverse, and the Spani
reverse, with pillars on either side. The scroll that winds around these pillars gave
'$'. This coin is also known as a Pillar Dollar or a Piece of Eight. Eight reales piece
called bits. When our dollar was introduced, two bits would have been equivalent
rise to the saying "two bits" when used in reference to a quarter. The coins were s
and so widely accepted, that they were even legal tender in the US until 1857. The
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and currently retail for between $20 and $300, depending on condition and type
minted in Guatemala, Colombia, Peru, and Bolivia. Their origin can be determined
MAROC
If you have a coin dated in the 1300s and it says "Maroc" or "Empire Cherifien", it i
from Morocco, and is probably decorated in a geometric pattern, such as a five po
pointed star. Like much of the Arab world, Morocco uses the Hejira calendar, a lun
roughly 580 years different from our own. Unusually, however, many of their coins
in numbers that we are able to read. Many Moroccan coins carry dates in the 1300
quite common, with very little value.
The 1965 British Churchill commemorative crown is very common, with millions pr
pieces retail for between $0.50 and $2, depending on condition. Another very co
piece is the Charles and Diana crown, minted in 1981; it is valued in roughly the sa
A very common silver coin is a modern restrike of an 18th century Austrian Thaler,
Thaler. All restrikes bear the date 1780 on the reverse and the inscription R.IMP.H
surrounding a portrait of Empress Maria Theresa on the obverse. These coins hav
for centuries. Currently these pieces retail for a slight premium over their silver co
Currently Marshall Islands coins are valued at or below their face value when bou
market. The basis for their currency is the US dollar. This was only based on the U
redeemable in the US. The coins are rarely redeemable at face value even on the
intended for collectors, not for widespread use as currency.
Gold-plated Coins
Gold plated coins are not mint made. Most of the gold plated coins are common d
plated coins have no numismatic value.
Lincoln/Kennedy Cent
The coin you have is a gimmick coin. A company in the 70's stamped items such a
cigars, word bubbles, and other comedic devices into the right field of Lincoln Ce
much as $3.95 for each coin even though today they retail for far less than $1.
Two-Headed Coins
Two-headed or two-tailed coins are "Trick" coins used by magicians. They are ma
by shaving two separate coins off (Both faces or both tails) and bonding them tog
and most used is machining the interior of one coin out (Leaving the edge) and sh
another coin on one face and the edge. The smaller piece is then inserted into th
bonded together.
If you have a two-headed coin, try this test. First, take a normal coin of the same d
end of your finger, and strike it with another coin. You will hear a metallic ring. Now
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and do the same thing. You will hear a dull thud. This indicates that the coin is two
Mule (Cent/Dime)
Coins with the dime and cent combination that are not uniform in color are "Trick"
They are manufactured in 2 ways; one is by shaving two separate coins off (Both
denomination) and bonding them together; the second method and most used is
coin out (Leaving the edge) and shaving a small portion of another coin on one fa
piece is then inserted into the hollowed-out piece and bonded together.
The recent discovery of a coin struck on a cent planchet with a cent obverse and
confirmed. The coin is dated 1999 and has the appearance of a cent.
Authentication
There are a number of factors to consider when authenticating a coin. Usually, the
must pass. If the coin fails any one of these tests, it is not authentic.
First, look to see if the coin was struck in the right metal. If the coin is struck in a b
silver or gold, it is a replica or counterfeit. You may also want to check the rim of t
a seam, the coin is an electroplated replica. Weight is often the best giveaway. Mo
weights, and if the coin does not match that weight, it is most likely a replica. If the
edge, such as a reeded edge when the edge should be lettered, it is not authenti
Authenticity is determined differently for every coin. If you have a potentially valua
its authenticity, the best thing to do is to show it to an expert. Coins graded and e
holders by respected companies such as PCGS and NGC have been authenticate
of the grading process.
The best way to tell the difference between copper and zinc cents dated 1982 is t
weigh 3.11 grams while the zinc will weigh 2.5 grams.
Although the difference between the 1982 cents is subtle, there is a quick way to
without using a scale. The composition of the 1982 cents can be derived by comp
hard surface with that of a cent dated prior to 1981 or after 1982.
In regards to the date on the cent, Large Date 1982 cents feature a 9 which lies sl
around it. The Small Date features digits which do not sit higher than one another
Cleaning coins
DO NOT CLEAN YOUR COINS! Just like any antique piece of furniture, or painting
coin are much more desirable by collectors than altered or damaged surfaces. As
worth significantly less money than wholly original coins. Even though a coin is da
that it is less valuable. The metal in coins often oxidizes and produces a wide arra
Some collectors hunt for wholly original coins with this type of toning.
A number of factors are involved in deciding whether or not a coin should be sub
such as NGC or PCGS. First is value. If the coin is not of sufficient value, it not be i
the coin certified; for instance, it is generally not a good idea to spend $20 to hav
graded. Second is the authenticity and originality of the coin. Neither NGC nor PC
that is not authentic or has been tampered with in any way.
If you have coins that you might wish to have graded, please send along a list of t
approximate conditions. From there we can evaluate and then possibly submit the
Mint Marks
A deciding factor in the value of many coins is the place of mintage. There will be
made at the Denver (D), New Orleans (O), San Francisco (S), and Carson City (CC)
Philadelphia have no mint mark until recently, when a (P) was added. Gold coins d
been made in Charlotte (C), or Dahlonega (D). West Point is the newest mint, Bulli
made there have a (W) mint mark.
For more information about mintmarks, please see our guide, All About Mintmarks
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DMPL
The designation PL and DMPL stand for Prooflike and Deep Mirror Prooflike. Whe
strike Morgan Silver Dollars, the impression was often frosty on the devices and r
contrast depth of the mirrored fields differentiate a coin between PL and DMPL.
Population
The population of a coin refers to how many coins have been certified by a given
particular grade. The amount higher refers to how many have been certified in a h
service.
The population data corresponds to the particular coin date, variety, and mint. PC
reports of population data and we always use the latest figures available in giving
Proof Coins
Proof coins are produced in a different manner than business strike coins. Each p
twice. The pressure is higher and the speed is slower for each strike of a proof co
are highly polished, some proof coins even come with a cameo effect. The fields
show contrast to the devices. Proof coins were produced as collector items for us
special person or purpose in the early days of proof coins.
PVC
Grading
The coin grading system is built on the Sheldon scale from 1-70 numerically. 70 be
coin. There are also word descriptions for the numerical designations. The first an
coins is Basal or Fair, this coin would be barely identifiable as to the type of coin.
the following order, About Good (AG-3), Good (G-4), Very Good (VG-8), Fine (F-12)
Fine (EF-40 or XF-40), and About Uncirculated (AU-50). Uncirculated coins fall into
contain the Brilliant Uncirculated (BU), UNC, or Mint State (MS) designation.
In conjunction with the Sheldon scale, many different designations are also added
particular characteristics. For uncirculated copper coins there are three designatio
The first and least valuable is brown (BN), the second is red brown (RB), and the th
(RD). These designations are used in conjunction with Mint State (MS), and Proof (
the color of uncirculated copper coins. Other designations such as Full Head (FH)
the quality of the strike on a particular issue.
For more information, please see our basic grading tutorial.
VAM
The VAM designation noted on Morgan Silver Dollars refers to a particular die pai
Van Allan and Mallis (the source of the VAM acronym) in their book on silver dolla
varieties are more popular than others, so a top 100 list was compiled. Some colle
set of the VAM varieties while others look to only collect the top 100. If the right b
piece may command a premium.
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